Jakarta. Lippo Cikarang, an industrial township developer, is upbeat it can achieve its marketing sales target for this year, with major projects like mixed use property project like Orange County is progressing, the company’s chief said in a statement late on Tuesday.
Meow Chong Loh, president director at Lippo Cikarang said performance in the first quarter “has fulfilled” the company’s expectations, despite the property sector is embracing a slowing economic growth and a tighter regulation environment for housing loans.
Lippo Cikarang expects marketing sales, or sales before a property construction is completed, to grow 67 percent this year to Rp 2.5 trillion ($190 million).
“In general, the businesses ... went really well in the first quarter of 2015,” said Loh, adding that the company’s Rp 250 trillion mixed use property development project in Cikarang, West Java is expected to contribute to a sustainable revenue growth for the company.
The company has begun marketing apartments for the development — the Irvine, WestWood and Pasadena Suites — all of which sold out at a preview event.
Orange County also offers number of facilities like Hikari Japanese School, Cinemaxx, shopping center and culinary centers like: Hypermart and Maxx Coffee.
Lippo Cikarang, which is affiliated with GlobeAsia and the Jakarta Globe through the Lippo Group, now has paid a stronger attention for the development of commercial buildings and lifestyle center.
The statement also said a general meetings of shareholders on Tuesday has approved the appointment of three new commissioners — Jenny Kuistono, Johannes Janny and Hadi Cahyadi — and the appointment for new vice president director Hong Kah Jin.